Waterways Leisure Tourism shares rise 5% after quarterly profit reversal

what happened

Shares of Waterways Leisure Tourism, which operates Cordelia Cruises, climbed 5% on Monday after the company reported a marked improvement in its fiscal second-quarter results. Moneycontrol reported that the stock also saw a block transaction involving 14.5 lakh shares, or about 2% of its equity, valued at Rs 15.7 crore. The price touched an intraday high of Rs 111 and was trading near Rs 106 in the afternoon. Since its July market debut, the stock has advanced approximately 58%, giving the company a market capitalisation of around Rs 7,650 crore.

The block trade was completed at Rs 107 per share, while the identities of the counterparties were not immediately known. For the quarter ended September 2026, consolidated net profit reached Rs 58.49 crore, compared with a loss of Rs 8.9 crore in the year-earlier period and a profit of Rs 23 crore in the June quarter. Operating revenue increased 30.9% year on year to Rs 132.9 crore from Rs 101.5 crore. EBITDA moved into positive territory at Rs 9.7 crore, versus a loss of Rs 6.5 crore a year earlier.

The reported earnings included a non-recurring Rs 49.5 crore receipt booked by subsidiary Bay Cruise Investments. It followed a September 1 arrangement with Norwegian Sky Limited under which the subsidiary helped bring forward the delivery and transfer of the vessel Sky; handover took place on September 10 rather than September 30. The company treated the compensation as a one-time gain with no related obligation. Excluding it, profit before tax would have been substantially lower. In the first half of FY27, net profit was Rs 81.3 crore and revenue Rs 323 crore, compared with Rs 25.8 crore and Rs 277.9 crore respectively a year earlier. The company listed on July 1, 2026, at Rs 681 against an IPO price of Rs 808, and later approved a 1:10 split that reduced face value from Rs 10 to Re 1.

why it matters

The headline earnings recovery was supported by stronger operating figures but also depended heavily on a one-off receipt. That distinction is relevant when markets assess whether the improvement can continue in subsequent quarters.

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